PHX Minerals Inc. (PHX) To Go Ex-Dividend on August 23rd

Posted by on Aug 10th, 2023

PHX Minerals Inc. (NYSE:PHX – Get Free Report) declared a quarterly dividend on Tuesday, August 8th, NASDAQ reports. Stockholders of record on Thursday, August 24th will be given a dividend of 0.0225 per share by the oil and gas producer on Friday, September 8th. This represents a $0.09 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, August 23rd.

PHX Minerals has decreased its dividend payment by an average of 19.8% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. PHX Minerals has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PHX Minerals to earn $0.40 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 22.5%.

PHX Minerals Trading Down 1.2 %

NYSE PHX opened at $3.22 on Thursday. The firm has a market capitalization of $119.17 million, a price-to-earnings ratio of 3.70 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.13 and a current ratio of 5.13. PHX Minerals has a one year low of $2.33 and a one year high of $4.39. The company’s 50 day moving average price is $3.10 and its 200 day moving average price is $2.96.

PHX Minerals (NYSE:PHX – Get Free Report) last announced its quarterly earnings data on Tuesday, May 9th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. PHX Minerals had a return on equity of 20.20% and a net margin of 44.30%. The firm had revenue of $11.86 million for the quarter, compared to analysts’ expectations of $10.97 million. On average, sell-side analysts predict that PHX Minerals will post 0.29 EPS for the current year.

Hedge Funds Weigh In On PHX Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP lifted its holdings in shares of PHX Minerals by 49.2% in the second quarter. Occudo Quantitative Strategies LP now owns 41,963 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 13,833 shares during the period. Cerity Partners LLC acquired a new stake in PHX Minerals in the 1st quarter valued at about $104,000. JPMorgan Chase & Co. lifted its holdings in PHX Minerals by 540.6% in the 1st quarter. JPMorgan Chase & Co. now owns 31,528 shares of the oil and gas producer’s stock valued at $96,000 after acquiring an additional 26,606 shares during the last quarter. Walleye Capital LLC bought a new position in shares of PHX Minerals during the 2nd quarter valued at about $91,000. Finally, Jane Street Group LLC grew its stake in shares of PHX Minerals by 25.8% in the 4th quarter. Jane Street Group LLC now owns 21,479 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 4,402 shares during the last quarter. 35.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PHX. StockNews.com started coverage on shares of PHX Minerals in a research note on Thursday, May 18th. They set a “hold” rating for the company. Alliance Global Partners assumed coverage on PHX Minerals in a research note on Monday, April 17th. They issued a “buy” rating and a $5.00 price target for the company. Finally, Stifel Nicolaus cut their price objective on shares of PHX Minerals from $4.70 to $4.50 and set a “buy” rating on the stock in a research note on Monday, July 24th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Check Out Our Latest Report on PHX Minerals

PHX Minerals Company Profile

(Get Free Report)

PHX Minerals Inc operates as a natural gas and oil mineral company in the United States. The company produces and sells natural gas, crude oil, and natural gas liquids. Its principal properties are located in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas. It sells its products to various purchasers, including pipeline and marketing companies.

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Dividend History for PHX Minerals (NYSE:PHX)

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